01. To save money develop the habit of postponing desires. By saving money and investing wisely, in the 3-4 years you will be able to buy anything you desire. 02. Improve your working skills to earn more money. 03. Learn financial education to manage your hard earned money wisely.
There is not a part of our life that money doesn’t touch or affect. We may not admit it but money is very important for us. If you understand how the money works, your money will work for you and you will always have more than enough money.
Recently came across Igor Ledochowski 'The Money in Your Mind' course (available as a set of CDs) best stuff I ever heard He talks about Wealth creation like no other
Best is to start an SIP (investing fixed amount every month) with 3-5 best mutual funds like HDFC Top 200, HDFC Equity and Quantum Long term Equity. If suppose, you are a 30 year old, continue with the SIPs for at least 20 years. During this 20 years the stock market will have bull runs and bear runs but eventually you will end up making at least 15% compounded and that is a whole lot of money if you do it for continuously for 20 years. If nothing else, it will take care of your medical bills (which increases as you age) and food bills and you do not have to be dependent on your children.
Re: best in SIP in MF
by Savio Figueiredo on Dec 17, 2011 10:15 AM
Very good advice Jose. And if you choose the ECS route after some time you wont even feel the money missing from you account while all the time it is compounding for you. And it is never too late to start
